Awqaf Properties Investment Fund (APIF)

Financing requests may be sent direct to the AMD at the contact address given
below, and should indicate the purpose of financing, amount requested, proposed
mode of financing, and required duration. A basic information form should be
attached to the financing request to which other documents should also be attached
including the company’s and the project’s legal documents, last
three-five years audited financial statements.

Data and Documentation Required for Consideration of Applications to
Finance Waqf Projects

Due to the fact that APIF aims at investment in Awqaf real estate projects
that are financially viable in order to achieve growth of such property, realize
a reasonable financial return on investments that would enable the endower to
spend it on the goals and purposes for which the property was endowed, APIF
gives special attention to ensuring that the projects it finances meet certain
qualitative criteria and the generation of a suitable financial return on the
investment made in these projects.

Therefore, consideration of a project submitted to APIF for financing requires
availability of comprehensive information on the basis of which the studies
can be prepared and an informed decision on the financing of the project made.
The following documents and information are usually required by APIF for study
and evaluation:

A comprehensive project feasibility study that would include the following
components:

Description of the project and its components (its location, planning regulations
and urban design, components and phases of the engineering study)

Construction costs (land and construction).

Schedule for implementing the project.

Market study, supply and demand and the general level of rent in the area
of the project.

Occupancy rates and expected returns.

Administrative and operational costs.

Financial study and basic assumptions on which they rest, financial statements
and the internal rate of return of the project, sensitivity analysis in case
of cost overruns by 10% or decrease of returns by 10%.

Basic information about the Waqf:

This should include the basic information pertaining to the Waqf and the
supply of a copy of the Waqf official deed.

Basic information about the entity in charge of the Waqf:

This should include supplying the basic information about the entity in
charge of the Waqf, along with the annual audited statements of such entity.

The information related to similar projects that have been completed by
the same entity in charge of the Waqf being considered for financing.